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Citi analyst downgrades Viacom

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Citi analyst downgrades Viacom

Citi analyst Jason Bazinet downgraded to "neutral,"six weeks after upgrading the company's shares to "buy," TheFly.comreported April 1.

Pointing at Paramount's box office showing as the reason behindthe downgrade, Bazinet said that consensus estimates for 2016 and 2017 may fallfurther with the studio continuing to "perform poorly." He alsolowered his price target on Viacom stock to $44 from $46.